World's biggest anti-corruption gathering in Panama City next week spotlights corruption's devastating impact on development

18 November 2013 - The Fifth Session of the Conference of the States Parties to the United Nations Convention against Corruption - COSP5 - will take place in Panama City from 25 to 29 November 2013. Held every two years, the Conference brings together more than 1,500 representatives from Member States, parliaments, inter-governmental organizations, civil society, the private sector and the media.

Corruption threatens social and economic development across the globe. Developing countries suffer losses every year due to acts of corruption. The price is paid in full by millions of men, women and children, who miss out on education, essential healthcare, proper sanitation and clean water.

The high level opening of COSP5 will be addressed by the Executive Director of UNODC, Yury Fedotov and the President of Panama. Some of the crucial issues on the agenda include: corruption and the post-2015 development agenda, asset recovery, country reviews and avoiding corruption at major public events. The event will also launch a series of informative publications on anti-corruption and investigative journalism, compliance and ethics in the private sector, as well as procurement.

The United Nations Convention against Corruption is the only universal legally binding anti-corruption instrument. The Convention came into force in December 2005 and counts with 168 State Parties. It requires States to prevent and criminalize corruption; to promote international cooperation; to recover stolen assets; and to improve technical assistance and information exchange in both the private and public sectors.

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